Released Tuesday, the report Power Shifts: Emerging Clean Energy Markets uses data from Bloomberg New Energy Finance and says clean energy investment in Peru is spread across a range of technologies.

Nearly nearly US$ 750 million was invested in biofuels, or one-third of the total, and the most amongst less-developed countries.

In 2009â€“13, investment in small-scale hydropower amounted to about US$ 670 million, the second-highest, while solar and wind received US$ 410 and US$ 250 respectively.

Only a very small of Peruâ€™s total energy supply is from clean sources, however, with 63 per cent supplied by mostly large-scale hydroelectric dams, according to the German Agency for Technical Co-operation, GTZ.

Large hydropower, while renewable, can cause substantial ecological damage and release large amounts of methane and other greenhouse gases.

The country is speeding ahead to develop its massive gas and hydroelectric potential, but the government does have programmes to equip isolated communities with solar power.

Currently, less than a third of rural households have electric power.

According to the World Bank, demand for electricity in Peru is growing at 9 per cent per year, requiring about 500 megawatts in new supply, much of it destined for heavy industry.

Chile took Peruâ€™s lead in installed capacity for clean energy in 2014, Pew says.